U.S. consumer prices increased moderately in February as higher shelter costs were partially offset by cheaper airline fares, giving the Federal Reserve room to keep interest rates unchanged next week while monitoring the economic impact of a trade war.

The inflation rate last month was slightly lower than forecast by economists, although price increases are still higher than the Fed would like.

The consumer price index for the 25-county region that includes Long Island increased 4.2% last month compared with February 2024, according to the federal Bureau of Labor Statistics.